Unemployment is bad, of course, but then we have been in an undeclared Depression since the crash of 2008. Undeclared, because admitting we are in a Depression is touching the third rail of politics. Declaring a Depression means someone screwed up big time ... in both the Government and Private Sector, and, frankly, scalps are due. In the 1930s Wall Street, the Rich, and Politicians learned just how bad a Depression can be. It can cook the Golden Goose of Wall Street and Banking fraud through tough, and responsible, new regulations. Can't have that. So, no Depression declared.
The thing is, the system that caused the Crash and Depression is no less rotten now than it was in 2008 ... and we know the global economy is contaminated with over a quadrillion dollars in derivatives of dubious value.
The honest in the investment community recognize there is another shoe to drop ... but when? And ... how bad will it actually be?
When you have a global economy built on hubris and fraud there is always a risk factor that makes the condition of the economy such it will define more than just the election.
Read the Article at HuffingtonPost
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